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Significant rise in demand for basmati rice from European countries such as Netherlands and Germany is driving the growth of the Europe basmati rice market.
PORTLAND, OR, US, April 27, 2023 /einpresswire.com / -- According to a new report published by Allied market Research, titled,“europe basmati rice market by Type, Application, and Distribution Channel: Opportunity Analysis and industry Forecast, 2022–2031,” the Europe basmati rice market was valued at $551.8 million in 2020, and is projected to reach $866.5 million by 2031, registering a CAGR of 4.2%. The Indian variety segment was the highest revenue contributor with $418.1 million in 2020, and is estimated to reach $671.3 million by 2031, with a CAGR of 4.5%.
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Significant rise in demand for basmati rice from European countries such as Netherlands and Germany is driving the growth of the Europe basmati rice market. Moreover, several government initiatives to strengthen the basmati rice supply chain have supplemented the growth even more. At the same time, the top market participants have continued to improve authenticity in the basmati rice supply chain, which has been beneficial for the industry.
Top Key Companies
The key companies profiled in the report include Amira Basmati Rice, HBI, Estraco, East End Foods, TBA Suntra, S.G.S. International Rice Company, Amira Nature Foods, VSR Rice, The Rice 'n Spice International Ltd., and Kohinoor Foods.
Regional Analysis:
The Indian strain dominates the European basmati rice market. India is the leading producer and exporter of basmati rice, accounting for over 70% of global basmati rice production. Basmati 370, Taraori Basmati, Basmati 386, Basmati 217, Pusa Basmati, Ranbir Basmati, and Super Basmati are the Indian cultivars of basmati rice that are allowed to export to Europe.
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A significant export of basmati rice across global regions has created a demand for a stronger supply chain to provide a fair outcome for all supply chain players, from farmers to consumers. While governments work to strengthen the basmati rice supply chain, significant market participants continue to develop authenticity in the basmati rice supply chain, which improves brand image in both domestic and international markets.
The Europe basmati rice market is analyzed across type, application, distribution channel, and country. Based on type, the Indian variety segment accounted for around three-fourths of the market share in 2021, and is expected to rule the roost by 2031. The same segment would also cite the fastest CAGR of 4.5% throughout the forecast period.
Key Findings Of The Study
In 2021, the UK dominated the market, with more than one-third share, in terms of both revenue and volume.
Spain is estimated to grow at the highest CAGR of 7.4% from 2021 to 2031, in terms of revenue.
The Indian variety type segment is projected to grow at the highest CAGR of 4.5%, in terms of revenue.
In 2021, the commercial application segment dominated the market, with more than two-thirds share, in terms of both revenue and volume.
The household application segment is anticipated to grow at the highest CAGR of 5.0%.
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Based on distribution channel, the hypermarkets/supermarkets segment contributed to nearly one-third of the total market revenue in 2021, and is expected to lead the trail by 2031. Simultaneously, the online segment would exhibit the fastest CAGR of 6.0% from 2022 to 2031.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Analytics LLP
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